Ep. 216: Jack Schwager Interview with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

Michael Covel

Investing, Business

4.6 • 730 Ratings

🗓️ 4 March 2014

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Jack Schwager, a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books. Schwager is one of the founders of Fund Seeder. Previously, he was a partner in the Fortune Group, a London-based hedge fund advisory firm. His prior experience also includes 22 years as Director of Futures research for some of Wall Street’s leading firms, most recently Prudential Securities.

The topic is his book The Little Book of Market Wizards.

In this episode of Trend Following Radio we discuss:

How Fund Seeder acts as a liason for traders and investors
The difficulty of starting out as a new trader
How Fund Seeder is a global opportunity
Schwager’s last book, Hedge Fund Market Wizards
The timeless quality of the Market Wizards books
Jesse Livermore’s Reminiscences of a Stock Operator
How human nature is the only thing that will never change
Looking for a “secret recipe” in the Market Wizards book
“The Upside of Down: Why Failing Well Is The Key To Success” by Megan McArdle
Why failure is smart and an essential part of success
The importance of failure in the context of education
Behavioral economics
Jack Horner and thinking outside of the box
The importance of loving what you do for a living
The importance of travel

Jump in!

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I’m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I’m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

To start? I’d like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/

You can watch a free video here: https://www.trendfollowing.com/video/

Can’t get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast

My social media platforms:
Twitter: @covel
Facebook: @trendfollowing
LinkedIn: @covel
Instagram: @mikecovel

Hope you enjoy my never-ending podcast conversation!

Transcript

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0:00.0	This is Trend Following Radio, where great thinking comes alive.
0:10.9	Nobel Prize winners, legendary traders, bestselling authors, and the pros that know what drive us irrational human beings.
0:21.2	I am your host, Michael Covel.
0:24.0	Not filtered, raw, honest.
0:27.3	That's my passion.
0:33.6	Today in the show I have Jack Schweger.
0:36.2	Jack has been on my podcast twice before. You will know him as the
0:40.2	author of the best-selling market wizards, the new market wizards, hedge fund market wizards, stock
0:46.6	market wizards. Today we will talk his newest, the little book of market wizards. Also,
0:53.5	his new program called Fund Cedar.
0:56.9	I think for those expiring money managers out there, you will enjoy.
1:07.6	Jack.
1:09.2	Hey, Mike.
1:10.2	How are you?
1:11.4	I'm okay.
1:13.2	I'm reaching you on the East Coast somewhere in New England today.
1:17.4	You're reaching me in New York City, but only temporarily.
1:22.5	It was being a month later, I'd be on the other side of the other side of the United States
1:26.8	because I'm going to be
1:27.5	heading out, we're relocating to Seattle.
1:30.0	Ah, interesting.
1:32.2	Well, I hope that, I hope the transition goes smooth.
	...

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